In: Finance
Visit any large local retailer of your choice and imagine yourself shopping for a product that you think is carried by that retailer.
Answer the following questions on the basis of your observations and complete a two- to three-page report.
What is the type of location (traditional business district, community shopping center, etc.)? How congested is this part of town in general? What influence does the neighborhood have on your impression of the store? Would you travel to this store under normal circumstances to shop for your product?
a. How convenient is it to get into the parking lot from the street? For example, do you have to drive by and make a U-turn or can you turn in at a stoplight?
b. How adequate is the parking? What other parking issues do you notice? For example, is there a parking lot? Are the slots wide or too narrow? Is it a short or long walk to the entrance? Are there are other cars in the lot? (If not, how does that make you feel?) How adequate is visibility? Describe the pedestrian traffic in the parking lot and to the store
c. Do you think nearby stores increase the number of customers to “your” store, or is it more likely to be the other way around? Are there direct competitors nearby?
d. Does the building have a modern appearance? Does it have an attractive appearance? Is the entrance inviting to potential shoppers? Explain.
a. Aesthetics: Discuss aisle width in general and in comparison with other similar stores. Note the lighting. Is it too bright or too dim? Is it used to emphasize the merchandise? How crowded does the store seem? Too deserted? Too crowded? Describe any odors that you detect. What is the noise level? Is there background music? If yes, note the volume, sound quality, and appropriateness of the music.
b. Layout: How prominent is the department in which your product is located? How long did it take you to find the department/product? Are more/better signs needed? How large is “your” department compared with others in the store? How accessible is a cashier’s station? Is someone immediately available to take payment? If not, how long would you have to wait?
c. Display: How deep and wide are the product lines compared with others in the store, with lines at other similar stores, and with your own expectations? What sources of information/promotion about your product are available? Are you able to inspect the very unit you would purchase or is it sealed in its package, located in a warehouse, etc.? What are your perceptions of the quality of the fixtures, shelving, etc.?
d. Personnel: Are salespeople available to help? If yes, by what clues are the sales staff recognizable? Is a salesperson willing and/or able to help you right away? Is the salesperson knowledgeable about the products and services offered?
Is your product available at the store? Is there a satisfactory substitute? What are your perceptions of the quality level of the goods offered? Specifically identify the factors on which you base these perceptions.
What is the price of the product/brand you would purchase from this store? Is the price prominently marked? How does the price compare with other stores’ prices? How does the price compare with your expectations?
Conclude your paper with reflections on the following questions:
Would you actually purchase the item from this store? Why, specifically? List the factors that play a role in your decision. Which factor is most important to you? If you would not purchase the item at this store, why not?